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Benefits of making a nomination for a mutual fund

Saturday, April 28, 2018, 2:37 PM

If a nomination is made for mutual fund, the funds can be easily transferred to the nominee. If something happens to the investor and the nomination is not made, it will be difficult for heirs to claim the mutual fund investment. They have to submit documents such as WILL and NOC from other heirs to get the mutual fund investments transferred to their name.
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What is a nomination in mutual funds?

Saturday, April 28, 2018, 2:35 PM

A nomination is a process of appointing a person called the nominee to take care of your assets, in case something happens to you (The Unit holder). It is compulsory to appoint a nominee for the mutual fund schemes you hold. If you have mutual funds in the demat account, you must appoint a nominee for this account.
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How to invest in Mutual Funds?

Saturday, January 13, 2018, 10:02 PM

In order to invest in mutual funds, you need to complete the KYC (Know Your Customer) procedure, by filling in the registration form and submitting all the identity and address proofs, along with the other requisite documents. You should have your PAN card and bank account, with proper MICR (Magnetic Ink Character Recognition) code and IFSC.

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